Editorial Tax Break 6-17-08
Small business accounts for 8 of every 10 new jobs created in Alabama.
Without them, our state would not be in business.
Our legislators should be commended for passing a bill in their special session giving small businesses a tax break. Starting next year, businesses with fewer than 25 employees will be able to deduct 150 percent of the cost of providing health care to their employees from state income tax. These same employees, if they make less than $50,000 a year, will also be able to deduct 150 percent of the cost of any portion of health insurance premiums they pay.